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I'm thinking to start a Chinese take out. Does anyone have experience with this or work in one? How much do I need, what is the average income? I'm in the researching process now with location search, equipment. When it say need 100k, is that 100k to start a business overall from start to opening or is how much to have in hand for 1 year?
I'm thinking to start a Chinese take out. Does anyone have experience with this or work in one? How much do I need, what is the average income? I'm in the researching process now with location search, equipment. When it say need 100k, is that 100k to start a business overall from start to opening or is how much to have in hand for 1 year?
How long have you worked in the restaurant industry in general, and specifically in Chinese takeout restaurants?
Location and great food means everything. And even with that, the profits may be very thin. My uncle had a Chinese restaurant before and it wasn't worth the effort. Get to the place at 5 am in the morning and left at 1 am in the morning. Had all his kids working for him too.
I told my uncle that if he let his kids go work elsewhere and he close shop, they would be better off. And that's what he did after 2 years in the business.
I don't even know where to start. If you don't know how to add up the costs to start a restaurant, I don't see how an Internet forum can teach you how to start up a business.
Plan on a minimum of two years before a new restaurant will support itself.
Location and great food means everything. And even with that, the profits may be very thin. My uncle had a Chinese restaurant before and it wasn't worth the effort. Get to the place at 5 am in the morning and left at 1 am in the morning. Had all his kids working for him too.
I told my uncle that if he let his kids go work elsewhere and he close shop, they would be better off. And that's what he did after 2 years in the business.
If the margins are so thin why do so many continue to do it?
Here in Queens, NY a restaurant opens up every minute. Even the bad restaurants in general get consistent traffic and not necessarily from new patrons either. There is just a plethora of lazy people that want cheap quick food that taste even somewhat good and have virtually no standards.
You're talking one of the most expensive real estate markets in the world and people managed to operate low quality establishments based on laziness and foot traffic alone. The foot traffic you would think would not balance out the lack of repeats over time, but somehow these places remain afloat
If the margins are so thin why do so many continue to do it?
There are plenty of "restaurants" that make their money doing things other than selling food. A big chunk of the local economy in most small towns revolves around stuff that is off the radar. The local police are either in on it or often just clueless.
I used to own a small restaurant. How much is needed to start depends on a whole bunch of factors like rent, any premium paid for the space, any other income you have, etc. I have no idea what the average income is, but I do know many restaurants never make money before they close down. Unless you have experience in OWNING a restaurant, are partnering with someone who does, are filthy rich, or live in a very low cost of living area, I'd very strongly suggest against opening a restaurant as a way of making money. It really is one of the toughest jobs out there, and unlike other tough jobs, if you have no experience you'll probably lose money, maybe a lot of money.
There are plenty of "restaurants" that make their money doing things other than selling food. A big chunk of the local economy in most small towns revolves around stuff that is off the radar. The local police are either in on it or often just clueless.
Stay far away from the restaurant business. However, for those that insist on getting into it anyway read this book by Anthony Bordain Kitchen Confidential first at least twice. I worked in the resturant business before (not as an owner) and everything is this book is gospel.
1.) Work for a Chinese "Take-Out" restaurant that you like for six months.
2.) Establish a great relationship with the owner.
3.) If after an additional six months, you still like the idea, offer to buy it.
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